Your supervising attorney has asked you to review a client’s assets to determine if he is eligible for Medicaid. The attorney has already confirmed that the client’s income is below the applicable level. Your state permits a Medicaid recipient to

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Your supervising attorney has asked you to review a client’s assets to determine if he is eligible for Medicaid. The attorney has already confirmed that the client’s income is below the applicable level. Your state permits a Medicaid recipient to own non-exempt assets valued at no more than $4,000, and uses the list of exempt assets from page 53 of your textbook.
You interview the client (Bob Jones) and discover that he owns only the following assets:
A residence, which is a house on a two-acre lot, worth $450,000;
Furniture and household furnishings valued at $150,000
A 2006 Cadillac, which he inherited from his uncle;
A paid-up life insurance policy with a face amount of $1,000,000 and a cash surrender value of $2,000;
A savings account worth $1500. Bob has never made any withdrawals from the savings account, and he states that it is intended to pay for his burial;
Clothing and other personal property valued at $15,000.
Bob also tells you that his uncle’s will gave Bob the right to personally use a vacation home in Mexico for two weeks every year.
Draft a brief memo to your supervising attorney explaining whether the client appears to be eligible for Medicaid. Explain why or why not, including any calculations you have made to determine whether or not the client is eligible. Also identify and explain any issues that must be researched before a definite determination can be made. Your memo should be no longer than one or two pages, double-spaced.